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Coinbase Rolls Out Crypto Storage Service For Financial Institutions
17 May 2018, 04:07 | Joann Bryant
Coinbase Rolls Out Crypto Custody Product for Institutions
Coinbase made the official announcement with a Blog post written by Adam White, General Manager at Coinbase. Members from the companies state that they are excited with the partnership and the possibility or regulating their crypto assets better.
Because of this new demand, the cryptocurrency exchanges of the world are competing for this new market. New product offerings announced today also include Coinbase Prime, a suite of tools and services specifically designed for institutions, and enhancements to Coinbase Markets that will be driven by an engineering team out of the newly opened Chicago office.
Coinbase, a leader in the cryptocurrency exchange market, has recently announced some new products that will suit institutions, which have become more interested in the crypto market recently. And based on what Coinbase has just announced, Coinbase Custody should be a pretty good answer to this problem. 'Over the course of the year, Coinbase Markets will introduce new features like low latency performance, on-premise datacenter colocation services, institutional connectivity and access, and settlement and clearing services.
Coinbase is known for providing a large pool of liquidity for all Coinbase products, and this is to be continued with the introduction of Coinbase Markets. "There is no better city than Chicago for companies that want to put down roots and grow their businesses". This Coinbase product will be in charge of bringing on new clients.
As the financial industry continues its expansion into blockchain tech, popular exchange desk Coinbase is broadening its line of products to make it easier for institutional giants to enter the cryptocurrency space.
Coinbase Prime is going to be a separate trading platform only for institutional investors.
The Coinbase Institutional Coverage Group is a product created to offer sales, trading, research, market ops as well as client services support to institutional investors. The exchange expects Coinbase Prime to accelerate adoption of cryptocurrency worldwide by helping institutions everywhere participate in this emerging asset class. That is what The Coinbase Institutional Coverage Group aims to provide. The Coinbase Institutional Coverage group is focused exclusively on serving the needs of institutional clients by providing sales, sales trading, research, market operations and client services support. The custodial services will enable users to store large amounts of digital currencies whereas the enhanced trading capabilities including margin trading and risk management will allow the customers to use borrowed money. "This movement requires institutional grade products and services, something Coinbase has been developing with leading institutions and which we are proud to formally launch today".
The last announcement made by Coinbase is regarding its Institutional Coverage Group, headquartered in the NY office.
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